Teach Your Children about the Value of Money

Posted by Katia Savoni
on
September 03, 2015

Teaching children at a
young age to value their money is an essential task as a parent. The way that a
parent deals with money, is the attitude that their children will develop
towards money as well. It is extremely important to enforce upon your child the
notion that money doesn’t grow on trees and that is must be saved. By teaching
your children at a young age how to save and invest their money, you are giving
them the tools to be responsible and savvy with money.

“But Mom I need it!” I’m sure most parents hear this each
trip to the store. Young children figure that everything that they want is an
absolute necessity. Children must be taught the difference between wanting and
needing items. One way to teach this difference is to take them grocery
shopping and have your child choose items that they need and items that they
want. Something that is recommended when teaching children to value money, is
to give them a small weekly allowance of no more than $5.00, and in return your
child does a certain amount of chores to earn this money. This reinforces the
fact that money is earned, and that hard work is rewarded.

Everyone remembers their piggy bank that they filled with
coins growing up, but did it teach you that spending was not the only way to
use money. I have come across a new type of money holder that helps kids use
their money more wisely, and it’s called a Moonjar. This container is divided
into three units labeled Spend, Save, and Share. This gives parents the
opportunity to teach their children all of the different ways that money can be
used. By saving their money, kids can learn patience by saving up for that new
toy. By having children save up their own money it makes them think twice about
quickly spend all of their money without a blink of hesitation. Also, with the
Moonjar, children have the opportunity to share their money, or donate to
charity or the less fortunate. This teaches children that nothing is free and
that all of their luxuries such as food and electricity have a price that not
everyone can afford. This will help instill some empathy. The Moonjar can be
purchased at littlezenminds.com, for you children to learn the different ways
that money is utilized!

Money is sometimes a difficult topic for children to
understand its importance and using teaching tools such as the Moonjar makes it easier for children to understand . Therefore, it is important that at a young age
children are learning that everything costs money. There are many different
ways to teach your children how to value money, from allowances to making them
buy that new toy that they want. This will show them that
money is earned through hard work and that it should be taken seriously.